Resolution Professional conduct of CIRP preserves debtor assets and manages operations until plan approval or liquidation appointment. The resolution professional conducts the entire corporate insolvency resolution process, preserves and protects the corporate debtor's assets, and manages its business operations during CIRP. The RP continues to manage operations after the CIRP period until either a resolution plan is approved or a liquidator is appointed. The RP inherits the powers and duties of the interim resolution professional, and the IRP must hand over all information, documents and records to any newly appointed RP.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Resolution Professional conduct of CIRP preserves debtor assets and manages operations until plan approval or liquidation appointment.
The resolution professional conducts the entire corporate insolvency resolution process, preserves and protects the corporate debtor's assets, and manages its business operations during CIRP. The RP continues to manage operations after the CIRP period until either a resolution plan is approved or a liquidator is appointed. The RP inherits the powers and duties of the interim resolution professional, and the IRP must hand over all information, documents and records to any newly appointed RP.
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